Global Payments Provider SafeCharge Announces 2014 Revenues up 78%

SafeCharge (AIM: SCH) has just announced its inaugural annual results as a publicly listed company. The firm is providing Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term services globally, catering to the needs of foreign exchange operators, spread betting companies, and online gambling providers amongst other businesses.

Revenues were up in 2014 by 78% year-on-year to US$76.9 million, with gross profit up 79% to US$44.5 million. The bottom line is net profit went up 122% to US$21.3 million with cash flows from operations almost doubling to US$20.8 million.

Profit after tax was reported at US$14.4 million, which is 11 times higher than in 2013. The cash balance position of the company remains solid with year end figures amounting to US$146.5 million.

The company signed up 250 new customers when compared to 185 in 2013, a 35% gain year-on-year. Amongst them was one of the major sports betting operators Ladbrokes.

The company’s CEO David Avgi, said, "after a transformational year of progress, December saw record monthly revenues and earnings. This momentum has continued into the first three months of 2015 and we have enjoyed very strong trading.”

“We will continue to develop our technology and products and grow the business into new market and industries, enabling us to benefit from operational Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term,” he highlighted.

The company’s board is to approve a final dividend at the Annual General Meeting on May 19th 2015 totaling to 3.57 pence per share which will be payable on May 26th. The stock will trade ex-dividend on May 7th 2015.